Thursday, August 12, 2010

The Top 5 Reasons You Should Complete Your Estate Plan

The Top 5 Reasons for Completing Your Estate Plan

There are hundreds of reasons for you to complete your estate planning. Recently at a talk I gave on estate planning and Wills and Trusts, I was asked, "Bernie, what are the top 5 reasons I should do an estate plan"?

That's a great question because it forces us to really focus on the true reasons that estate planning in some form is necessary for everyone. I mean everyone, regardless of age, relationship status or wealth.

So here we go, the top 5 reasons you should complete your estate plan ASAP:

1. Certainty

Your estate plan creates certainty. For yourself, your family, your pets and your property. A good estate plan will ensure that what you want to happen and when you want it to happen will.

2. Creativity

Since it's your estate plan, you can be as creative as you want to be. Your only limitations are: how much you want to spend and keeping it legal.

3. Continuity

All of us have plans for the future. Some of those plans involve ourselves, and some involve our loved ones. A good estate plan can make sure that those plans will happen and your dreams for your family can continue into the future even if you are not here to see it occur.

4. Comfort

Having a good estate plan will make you feel more comfortable. Comfortable knowing that you have protected those and that needing protection. You will be comfortable knowing that you have done what less then 20% of adults have done--your estate plan. You will have thought through those issues we all avoid and don't think about. And that brings an incredible sense of comfort.

5. Confidence

A good estate plan will create confidence for you and your family. Knowing that they are protected and cared for makes you more confident to live your life. Never again will go to sleep worrying.

Those are the top 5 reasons I think you should complete your estate plan. Maybe you have others. If you do, I'd like to hear from you and would also like to hear from you if you have comments or questions about this list.

Bernie Greenberg

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